Overview

Historical Returns (%) as of Jun 30, 2022

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. The share class has no sales charge.
 

Fund Facts as of Aug 31, 2022

Class I Inception 04/29/2022
Investment Objective Total return
Total Net Assets $25.0M
Expense Ratio (Gross)2 0.69%
Expense Ratio (Net)2,3 0.49%
CUSIP 131582231
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Mortgage-backed securities are subject to credit, interest rate, prepayment and extension risk. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%) as of Jun 30, 2022

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. The share class has no sales charge.
 

Fund Facts

Expense Ratio (Gross)2 0.69%
Expense Ratio (Net)2,3 0.49%
Class I Inception 04/29/2022
Distribution Frequency Monthly

Yield Information as of Aug 31, 2022

Distribution Rate at NAV 3.41%
Subsidized SEC 30-day Yield4 3.46%
Unsubsidized SEC 30-day Yield 1.63%
 

NAV History

Date NAV NAV Change
Sep 30, 2022 $9.67 -$0.03
Sep 29, 2022 $9.70 -$0.03
Sep 28, 2022 $9.73 $0.08
Sep 27, 2022 $9.65 $0.02
Sep 26, 2022 $9.63 -$0.09
Sep 23, 2022 $9.72 -$0.04
Sep 22, 2022 $9.76 -$0.08
Sep 21, 2022 $9.84 $0.02
Sep 20, 2022 $9.82 -$0.02
Sep 19, 2022 $9.84 -$0.02
 

Distribution History5

Ex-Date Distribution Reinvest NAV
Aug 31, 2022 $0.02831 $9.96
Jul 29, 2022 $0.02090 $10.03
Jun 30, 2022 $0.01902 $9.99
May 31, 2022 $0.00154 $10.02
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History5

Ex-Date Short-Term Long-Term Reinvest NAV
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Mortgage-backed securities are subject to credit, interest rate, prepayment and extension risk. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Fund Holdings6,7 as of Jul 31, 2022

Holding Coupon Rate Maturity Date % of Net Assets
MSILF GOVERNMENT PORTFOLIO MSILF GOVERNMENT PORTFOLIO 1.43% 12/31/2030 52.82%
Ginnie Mae 5.00% 08/01/2052 13.08%
Ginnie Mae 5.50% 08/01/2048 4.12%
GENERIC G2 30YR G2 5 5.5 360 0 USBEV58QPP66 5.00% 05/01/2052 4.09%
Fannie Mae Pool - MA4656 4.50% 07/01/2052 4.05%
Ginnie Mae II Pool - CM7890 5.00% 06/20/2052 2.48%
FARM 2022-1 Mortgage Trust 2.94% 01/25/2052 2.08%
Ginnie Mae II Pool - CN0468 5.00% 07/20/2052 2.08%
Ginnie Mae II Pool - CO2843 5.00% 07/20/2052 2.08%
Ginnie Mae II Pool - CJ8958 5.00% 07/20/2052 2.06%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Mortgage-backed securities are subject to credit, interest rate, prepayment and extension risk. Mortgage- and asset-backed securities are subject to credit, interest rate, prepayment and extension risk. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry including REITs. Because the Fund investments may be concentrated in a particular industry, the Fund share value may fluctuate more than that of a less concentrated fund. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Andrew Szczurowski, CFA

Andrew Szczurowski, CFA

Managing Director, Head of Agency MBS
Joined Eaton Vance 2007

Biography

Andrew Szczurowski is Head of Mortgage-Backed Securities and a portfolio manager on the mortgage backed securities (MBS) team. He joined Eaton Vance in 2007. Morgan Stanley acquired Eaton Vance in March 2021.

Andrew began his career in the investment management industry in 2005. Previously at Eaton Vance, he was a portfolio manager on Eaton Vance's global income team, responsible for buy and sell decisions, portfolio construction and risk management for the firm's mortgage-backed strategies. Before joining Eaton Vance, he was affiliated with BNY Mellon.

Andrew earned a B.S., cum laude, from Peter T. Paul College of Business and Economics at the University of New Hampshire. He is a member of the CFA Society Boston and is a CFA charterholder.

Education
  • B.S. University of New Hampshire

Experience
  • Managed Fund since inception

 
Alex Payne, CFA

Alex Payne, CFA

Managing Director, Portfolio Manager
Joined Eaton Vance 2015

Biography

Alexander Payne is a portfolio manager on the Agency Mortgage-Backed Securities (MBS) team. He is responsible for buy and sell decisions, portfolio construction and risk management. He joined Eaton Vance in 2015. Morgan Stanley acquired Eaton Vance in March 2021.

Alex began his career in the investment management industry in 2007. Before joining Eaton Vance, he was a mortgage trader at Goldman Sachs.

Alex earned a B.A. in government from Dartmouth College and is a CFA charterholder.

Education
  • B.A. Dartmouth College

Experience
  • Managed Fund since inception

 

Literature

Literature

Full Prospectus

Download Full Prospectus - Last updated: Apr 29, 2022

Q3 Holdings

Download Q3 Holdings - Last updated: Jun 30, 2022

Summary Prospectus

Download Summary Prospectus - Last updated: Apr 29, 2022